Post by jeffolie on Jul 24, 2012 12:11:21 GMT -6
I hate straight line thinking that the current trend will continue without change as far as the eye can see. The trend is your friend for trading but change in trends happen; staying with the trend means having an exit plan for when the trend peaks.
India's leadership as the largest retail consumer of gold may change. China's investors are gaining ground on India's position as the current politics and economics in China make their stock market unattractive and the govt spouting anti Real Estate slogans to cap the bounce in prices and restrain wage push inflation. China's govt sponsors the sale of metals to the population.
India opposes Gold
India's govt wants to repress Gold importation and prices to manipulate India's economic numbers including it currencies exchange rate, inflation and sales numbers. Govt opposition has taken many actions all of which have not significantly changed the religious cultural traditions driving gold in addition to the economic motivations such as fear of currencies and inflation.
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Indians should reduce gold tributes to God - RBI Deputy Governor
In order to keep gold prices under check, the practice of giving gold as dowry or as an offering at religious places must be curbed, as should gold jewellery purchases, suggests a senior official at India's central bank.
Gold offerings at temples have come under the scanner of the Reserve Bank of India. Deputy Governor K C Chakrabarty has called for a reduction in demand for gold as an offering to the deities.
"Ninety percent of the gold demand is jewellery or to offer to God. Both have to stop," said the official of the apex bank. The deputy Governor noted that Indian society's obsession with gold was an archaic idea of pre-historic times when India was a rich society of abundance.
"Wearing gold as an ornament was a culture when you were a rich society, when you were contributing to 30% of the GDP of the world. Today, we have become a poor country, we need to change our culture," he added.
You can't make this stuff up! This story mineweb.com story was filed from Mumbai on Monday...
www.mineweb.com/mineweb/view/mineweb/en/page34?oid=155562&sn=Detail&pid=110649
India's leadership as the largest retail consumer of gold may change. China's investors are gaining ground on India's position as the current politics and economics in China make their stock market unattractive and the govt spouting anti Real Estate slogans to cap the bounce in prices and restrain wage push inflation. China's govt sponsors the sale of metals to the population.
India opposes Gold
India's govt wants to repress Gold importation and prices to manipulate India's economic numbers including it currencies exchange rate, inflation and sales numbers. Govt opposition has taken many actions all of which have not significantly changed the religious cultural traditions driving gold in addition to the economic motivations such as fear of currencies and inflation.
===============================
Indians should reduce gold tributes to God - RBI Deputy Governor
In order to keep gold prices under check, the practice of giving gold as dowry or as an offering at religious places must be curbed, as should gold jewellery purchases, suggests a senior official at India's central bank.
Gold offerings at temples have come under the scanner of the Reserve Bank of India. Deputy Governor K C Chakrabarty has called for a reduction in demand for gold as an offering to the deities.
"Ninety percent of the gold demand is jewellery or to offer to God. Both have to stop," said the official of the apex bank. The deputy Governor noted that Indian society's obsession with gold was an archaic idea of pre-historic times when India was a rich society of abundance.
"Wearing gold as an ornament was a culture when you were a rich society, when you were contributing to 30% of the GDP of the world. Today, we have become a poor country, we need to change our culture," he added.
You can't make this stuff up! This story mineweb.com story was filed from Mumbai on Monday...
www.mineweb.com/mineweb/view/mineweb/en/page34?oid=155562&sn=Detail&pid=110649